Without SWIFT and ruble exchange. What sanctions are being prepared by the Russian Federation

A new package of economic restrictions is currently being discussed by the United States with European partners.

The United States may impose “tough economic sanctions” and deploy more of its military in Europe in the event of a new invasion of Ukraine by Russian troops, the White House warned on the eve of a conversation between American leader Joe Biden and Russian President Vladimir Putin.

Biden himself has warned earlier that he does not accept any of the red lines that are being talked about in the Kremlin, and constitutes “the largest and most significant set of initiatives that will make it very difficult for Putin to do what he is about to do.”

The media learned that the new package of sanctions will target members of Putin’s inner circle and Russian energy producers, and will also include a “nuclear option.” Perild.com tells the details.

“Devilishly aggressive sanctions package”

The United States could impose “tough economic sanctions” and deploy more US troops in Europe in the event of a new Russian military invasion of Ukrainian territory, a senior White House official said at a briefing.

Washington is not considering a direct military response, but will resort to a “combination” of methods in the event of a Moscow attack on Ukraine: “support for the Ukrainian army, tough economic sanctions and a significant increase in support and resources for NATO allies.”

A spokesman for the US presidential administration declined to clarify what kind of sanctions could be discussed. Earlier, the AP agency wrote that the White House has in its arsenal many sanctions instruments, including the disconnection of Russia from the international payment system SWIFT.

Sources of Reuters claimed that the Biden administration discussed, among other things, sanctions against the inner circle of Russian President Vladimir Putin, but the final decision was not made.

On the evening of December 6, the American CNN and Bloomberg published more detailed information about the impending economic sanctions, which are designed to stop another Russian attack on Ukraine.

According to the channel, members of Putin’s inner circle, Russian energy companies and banks may fall under the restrictions. New sanctions could also be applied to Russia’s sovereign debt.

In the most radical, “nuclear”, as CNN calls it, Russia can be disconnected from the interbank SWIFT system.

Sanctions against individuals from Putin’s inner circle, whom the channel calls “leading Russian oligarchs”, could include restrictions on entry and a ban on the use of the American banking system.

In addition, according to CNN’s interlocutors, there is also a serious discussion about depriving Russian energy producers of access to debt markets in the event of an invasion of Ukraine.

Two thirds of Ukraine. New Invasion Intelligence

“We have prepared a damn aggressive package of sanctions,” a source in the US presidential administration told CNN. According to him, if Russia does attack, it will be followed by the toughest economic sanctions ever imposed, comparable to which can only be compared with sanctions against Iran and North Korea.

However, the White House has not yet made final decisions on whether sanctions against Russia will be imposed, according to CNN’s interlocutors. Now the package of measures is being discussed with European partners, many of whom have close economic relations with Russia, “in the hope of coordinating actions.”

At the same time, the authors of the new package of sanctions have fears that in response Russia may start using energy resources as an instrument of influence.

Bloomberg writes, citing sources familiar with the discussion of the issue, that the United States and the European Union are considering the possibility of imposing sanctions against the largest Russian banks and the Russian Direct Investment Fund (RDIF).

According to the agency’s sources, conversion of rubles into dollars and other foreign currencies, including euros and pounds sterling, may be among the most probable restrictions.

In addition, the West may limit the ability of investors to buy Russian debt on the secondary market.

“The most radical option would be to deny Russia access to the SWIFT financial payment system, but this would harm ordinary citizens, so officials are more inclined to pursue the country’s ability to convert rubles into dollars, euros or British pounds,” the agency writes.

Bloomberg interlocutors argue that the issue of imposing economic sanctions, Biden can present to Putin during negotiations, which are scheduled for the evening of December 7.

Press Secretary of the President of Russia Dmitry Peskov, commenting on information about possible US sanctions, said that such materials on the eve of the summit of the heads of the two countries are more likely not news, but “a continuation of information hysteria.”

“Rather, this is not news, but a continuation of the information hysteria that we are witnessing in the media these days,” Peskov said.

Note that the disconnection of Russia from SWIFT has been discussed since 2014 – since the annexation of Crimea. Then they were refused because of the collateral damage that ordinary Russian citizens would incur.

The SWIFT international settlement system unites more than ten thousand banking and financial organizations in 210 countries of the world. There are more than 600 SWIFT system participants in Russia, including the Bank of Russia and the largest banks. More than a million transactions are processed through SWIFT per day, and 2.5 billion payment orders are processed annually.

Central banks – Belgium, Canada, France, Germany, Italy, Japan, Holland, Great Britain, USA, Switzerland, Sweden, as well as the central bank of the European Union exercise direct control over the company’s activities.

Vladimir Dzhabarov, First Deputy Chairman of the Federation Council Committee on International Affairs, commenting on information from CNN and Bloomberg, said that Russia would not be disconnected from SWIFT, since it would be difficult for Europeans to do without it outside the payment system.

However, Europe itself is considering such sanctions. So, in April 2021, the European Parliament adopted a resolution that, in the event of an armed invasion of the Russian Federation into the territory of Ukraine, provides for its exclusion from SWIFT, as well as freezing all European assets of oligarchs close to the Russian authorities and their families and stopping Nord Stream-2.

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